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Economist Warns That Elon Musk Is About to Cause a "Deep, Deep Recession" (lemmy.blahaj.zone)

submitted 3 days ago by florencia@lemmy.blahaj.zone to c/whitepeopletwitter@sh.itjust.works

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Source: https://bsky.app/profile/jrothst.bsky.social/post/3liin7up3ck2z

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[–] Goodmorningsunshine@lemmy.world 8 points 2 days ago (1 children)

https://www.the-independent.com/news/world/americas/us-politics/elon-musk-economy-trump-hardship-b2637850.html

[–] Professorozone@lemmy.world 4 points 2 days ago (2 children)

Thank you for the link.

In the article Elon Musk said that we (and by we he means us) have to reduce spending to live within our means. LOL. This from the guy who sells $100k cars.

[–] the_crotch@sh.itjust.works 1 points 5 hours ago

This from the guy who sells $100k cars.

And could afford to buy one of those cars every hour for over 400 years without running out of money

[–] boonhet@lemm.ee 1 points 1 day ago (1 children)

Probably realized he can't sell a lot of those anymore.

He could sell a bunch of Tesla stock, crash the entire US economy and then buy a whole lot of whatever he wants because everything will be discounted (including Tesla, he could just rebuy his stock for a fraction of the price)

Rich people LOVE economic downturns. Best time to make money is when everything is on sale, just need to buy and wait. Stocks, property, everything.

[–] Professorozone@lemmy.world 1 points 1 day ago (1 children)

Because he can't buy whatever he wants now?

[–] boonhet@lemm.ee 1 points 1 day ago (1 children)

He can, but if stocks fall 90%, he can buy 10x as much. If he shorts things on the way down, he can multiply his money first too.

If this is played right, he could be worth tens or hundreds of trillions a decade or 2 from now.

[–] Professorozone@lemmy.world 1 points 1 day ago

I believe that's what he's going for.